Robert Axel - Feb 14, 2023 Form 4 Insider Report for PRUDENTIAL FINANCIAL INC (PRU)

Role
SVP and Controller
Signature
/s/ Richard J. Baker, attorney-in-fact
Stock symbol
PRU
Transactions as of
Feb 14, 2023
Transactions value $
-$138,072
Form type
4
Date filed
2/16/2023, 03:30 PM
Previous filing
Dec 19, 2022
Next filing
Mar 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRU Common Stock Options Exercise $0 +3.94K +67.76% $0.00 9.74K Feb 14, 2023 Direct F1
transaction PRU Common Stock Tax liability -$138K -1.34K -13.72% $103.27 8.41K Feb 14, 2023 Direct F2
holding PRU Common Stock 1.27K Feb 14, 2023 By 401(k) F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PRU 2023 Restricted Stock Units Award $0 +2.03K $0.00 2.03K Feb 14, 2023 Common Stock 2.03K $0.00 Direct F4, F5
transaction PRU 2023 Performance Shares Award $0 +4.75K $0.00 4.75K Feb 14, 2023 Common Stock 4.75K $0.00 Direct F6, F7
transaction PRU 2020 Performance Share Options Exercise $0 -4.38K -100% $0.00* 0 Feb 14, 2023 Common Stock 4.38K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Compensation Committee determined the number of shares received based on the Company's return on equity ("ROE") performance relative to a pre-determined goal and relative to the ROE performance of certain life insurance peer companies for the 2020 through 2022 performance period.
F2 Represents shares withheld for the payment of taxes.
F3 Amount reported has been adjusted to include 13 shares of Issuer common stock acquired by the reporting person under The Prudential Employee Savings Plan between September 30, 2022, and December 31, 2022, based on a plan statement dated December 31, 2022. The acquisition of such shares was exempt from Section 16 pursuant to Rules 16b-3(c) and 16a-3(f)(1)(i)(B).
F4 The Restricted Stock Units convert to common stock on a 1 to 1 basis.
F5 The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2024.
F6 The performance shares convert to common stock on a 1 to 1 basis.
F7 Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation Committee in February 2026 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2023 through 2025 performance period.